Public Offer to open on 6thMarch 2017, and to close on 8thMarch 2017
Price Band fixed from Rs. 324 to Rs. 333 per Equity Share
Mumbai, 4th March, 2017 (GPN) : Music Broadcast Limited (the “Company” or “Issuer”), in consultation with ICICI Securities Limited (the “Book Running Lead Manager” to the Offer), has finalized allocation of 44,01,158 Equity Shares, to Anchor Investors at the Anchor Investor Allocation Price of Rs. 333 per Equity Share aggregating to Rs. 146.56 crore.
The anchor investors include: HSBC INDIAN EQUITY MOTHER FUND (3,15,315 equity shares accounting for 7.16%); NOMURA FUNDS IRELAND PUBLIC LIMITED COMPANY – NOMURA FUNDS IRELAND – INDIA EQUITY FUND (3,15,315 equity shares – 7.16%); FRANKLIN INDIA SMALLER COMPANIES FUND (3,15,315 equity shares – 7.16%); MORGAN STANLEY MAURITIUS COMPANY LIMITED (3,15,315 equity shares – 7.16%); PICTET COUNTRY (MAURITIUS) LIMITED (3,15,315 – 7.16%); DSP BLACKROCK EQUITY SAVINGS FUND (1,73,070 equity shares – 3.93%); DSP BLACKROCK MIP FUND (98,595 equity shares – 2.24%); DSP BLACKROCK TECHNOLOGY.COM FUND (38,025 equity shares – 0.86%); DSP BLACKROCK DUAL ADVANTAGE FUND SERIES 39-36M (5,625 equity shares – 0.13%); HDFC TRUSTEE COMPANY LIMITED – HDFC PRUDENCE FUND (3,15,315 equity shares- 7.16%); ICICI PRUDENTIAL MIDCAP FUND (3,15,315 equity shares – 7.16%); RELIANCE CAPITAL TRUSTEE COMPANY LTD. A/C RELIANCE MEDIA & ENTERTAINMENT FUND (1,57,635 equity shares – 3.58%); RELIANCE CAPITAL TRUSTEE CO LTD – A/C RELIANCE SMALL CAP FUND (1,57,680 equity shares – 3.58%); HDFC STANDARD LIFE INSURANCE COMPANY LTD (3,15,315 equity shares – 7.16%); SBI LIFE INSURANCE COMPANY LIMITED (3,15,315 equity shares – 7.16%); BIRLA SUN LIFE INSURANCE COMPANY LIMITED (3,15,315 equity shares – 7.16%); INDIA MIDCAP (MAURITIUS) LTD (3,15,315 equity shares – 7.16%); BIRLA SUN LIFE TRUSTEE COMPANY PRIVATE LIMITED A/C BIRLA SUN LIFE SMALL AND MIDCAP FUND (1,51,032 equity shares – 3.43%); and UTI – INDIA LIFESTYLE FUND(1,51,031 equity shares – 3.43%).
The Company proposes to open on Monday, 6th March 2017, an initial public offer of equity shares of face value of Rs. 10 each (the “Equity Shares”) for cash at a premium (the “Offer”) consisting of a fresh issue of up to Rs. 4,000 million (the “Fresh Issue”) and an offer for sale up to 2,658,518 Equity Shares by the Selling Shareholders (the “Offer For Sale”). The Offer will close on Wednesday, 8th March 2017. The Price Band for the Offer is fixed from Rs. 324 to Rs. 333 per Equity Share
The Company, in consultation with the Book Running Lead Manager, may consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“ICDR Regulations”). The Anchor Investor Bidding Date shall be one Working Day prior to the Offer Opening Date; i.e., Friday, 3rd March 2017. Bids can be made for a minimum of 45 Equity Shares and in multiples of 45 Equity Shares thereafter.
The sole Book Running Lead Manager (“BRLM”) to the Offer is ICICI Securities Limited.
The Offer is being made through the Book Building Process in compliance with regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), wherein 50% of the Offer shall be allocated on a proportionate basis to qualified institutional buyers (“QIBs”). Our Company may, in consultation with the BRLM, allocate up to 60% of the QIB Portion to Anchor Investors (“Anchor Investor Portion”) on a discretionary basis, out of which at least one-third will be available for allocation to Mutual Funds only subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Such number of Equity Shares representing 5% of the Net QIB Portion (i.e. The portion of the QIB Portion less the number of Equity Shares Allotted to the Anchor Investors) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Investors (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process, and shall provide details of their respective bank account in which the Bid amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”).
The Equity Shares offered through the Red Herring Prospectus dated February 22, 2017 (“RHP”) are proposed to be listed on BSE and NSE.
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.
Anchor Investor Allotment of Music Broadcast Ltd.
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